DAVID BEATS GOLIATH, AGAIN Ayear ago, the Bangladeshi taka was - TopicsExpress

DAVID BEATS GOLIATH, AGAIN Ayear ago, the Bangladeshi taka was selling at 84 to a US dollar. It is now between 77 and 78. In the same period, the Indian rupee has fallen over 15%: from 47-48 to a dollar to 61-62. In fact, currency traders predict that another nosedive by the rupee and it would be nearly at par with the taka. That may not be good for Bangladesh that seeks to boost exports, but it does indicate the strength of the economy. When Prime Minister Sheikh Hasina lost patience with the World Bank, withdrew the funding request to the global lender and decided to fund the $2.9-billion rail-road bridge on the mighty Padma river, she made a huge statement of national confidence. It is not easy for Bangladesh, once so dependent on foreign aid, to tell the World Bank to pack up.

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